Rubber Molding Market: The Market Is Driven By A Rising Interest In Automobiles During The Forecasting Period Of 2023 To 2032
Research Reports
Sep 26, 2023
Market Research Future Insights
According to MRFR analysis, The Rubber Molding Market Size was valued at USD 34.9 Billion in 2022. The Rubber Molding market industry is projected to grow from USD 36.7 Billion in 2023 to USD 55.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.30% during the forecast period (2023 – 2032).
It is crucial to comprehend runner molding before diving into the rubber molding industry trends. The rubber is formed into various items utilized in the automobile sector throughout this procedure. The items are retained in the molds or cavities until being given the final shape. Then, rubber-molded components are utilized in a variety of automobile components, such as brakes, valves, clutches, electric motors, batteries, engines, and air conditioning systems. The rubber molding market’s expansion is the result of several reasons. Increased manufacturing of vehicles, increased need for lightweight materials in the automobile industry, technological advancements, and many more. One of the other key aspects driving the market’s expansion is a rise in the usage of soy oil to improve rubber automotive components. Rubber is given more stretchability and has less of an environmental effect owing to soy oil.
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Key Companies in the Rubber Molding market include
- RotaDyne Precision Engineering Private Limited
- Dow Chemical Company
- Vuteq USA Inc.
- Continental AG
- Federal-Mogul Corporation
- Sumimoto Riko Co. Ltd
- Cooper Standard Buildings Inc.
- DANA Holding Corporation
- Freudenberg and Co
- NOK Corporation
Regional Analysis
The market’s dominant region share in the Asia Pacific region. India and China, such as the rest of Asia Pacific, have experienced a significant increase in the rubber molding industry Outlook in recent years. This increase is mostly due to increased demand for vehicles, which is also increasing due to the population’s increased purchasing power. Increased infrastructural expansion in most sections of the region is another important aspect contributing to the worldwide market value. The other areas are still attempting to achieve the necessary development and meet the requisite criteria through strategic planning and implementation.
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Market Segmentation
The Global Rubber Molding market has been segmented into Components, Types, Materials, and Vehicle Types.
Based on the Components, the market has been segmented into Hoses, Gaskets, Diaphragms, Bellows, Seals, and Weather-strips.
Based on the Types, the market has been segmented into Liquid Injection Molding, Compression Molding, Transfer Molding, and Others.
Based on the Material, the market has been segmented into Ethylene Propylene Diene Terpolymer (EPDM), Natural Rubber (NR), Styrene-Butadiene Rubber (SBR), and Others.
Based on the Vehicle Type, the market has been segmented into Passenger Vehicles and Commercial Vehicle.
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Industry Updates:
Apr 2020 Nanofabrica, an Israeli startup, has set up its micro additive manufacturing equipment to 3D print micro molds. Nanofabrica’s Terra 250 AM method is an “ultra-high” resolution DLP machine that depends on semiconductor lithography to print layers as thin as 1 micron. The company, also lately raised USD 4 million in a financing round headed by Microsoft’s M12 venture fund, was proficient at injecting polyethylene, polypropylene, and ABS into micro molds 3D printed with the Terra 250 AM system.
February 2021 Vuteq USA Inc., which manufactures, develops, and supplies automobile glass products, exterior plastic components, and automotive interiors, invested 60 million dollars to begin a facility in Huntsville, Alaska which deals with injection molding.
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